Can I retire at age 56 with 776,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $776,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$64,081$63,511$62,954$62,410$61,879$60,043
2 years$31,723$31,133$30,560$30,005$29,466$27,631
3 years$20,939$20,346$19,774$19,224$18,695$16,919
4 years$15,548$14,956$14,391$13,850$13,333$11,630
5 years$12,314$11,726$11,168$10,638$10,136$8,509
6 years$10,159$9,575$9,025$8,507$8,020$6,472
7 years$8,620$8,041$7,500$6,994$6,522$5,053
8 years$7,466$6,893$6,361$5,867$5,411$4,020
9 years$6,569$6,001$5,478$4,998$4,557$3,242
10 years$5,852$5,290$4,776$4,308$3,883$2,642
11 years$5,266$4,709$4,205$3,749$3,339$2,171
12 years$4,778$4,227$3,732$3,289$2,894$1,795
13 years$4,365$3,820$3,334$2,903$2,523$1,493
14 years$4,012$3,472$2,996$2,577$2,212$1,246
15 years$3,706$3,172$2,705$2,299$1,948$1,044
16 years$3,438$2,910$2,452$2,058$1,721$877
17 years$3,202$2,680$2,231$1,849$1,526$738
18 years$2,993$2,476$2,037$1,666$1,357$623
19 years$2,806$2,295$1,865$1,506$1,210$526
20 years$2,637$2,133$1,711$1,364$1,080$445
21 years$2,485$1,987$1,574$1,238$967$377
22 years$2,347$1,854$1,451$1,125$867$320
23 years$2,222$1,734$1,340$1,025$778$272
24 years$2,106$1,625$1,239$935$699$231
25 years$2,001$1,525$1,147$854$629$196
26 years$1,903$1,433$1,064$781$567$167
27 years$1,813$1,349$988$714$511$142
28 years$1,730$1,271$919$655$461$121
29 years$1,652$1,199$855$600$416$103
30 years$1,580$1,132$796$551$376$87
31 years$1,512$1,070$742$506$340$74
32 years$1,449$1,013$693$465$308$63
33 years$1,390$959$647$428$278$54
34 years$1,334$909$604$393$252$46
35 years$1,282$862$565$362$228$39
36 years$1,232$818$528$334$207$33
37 years$1,186$777$495$307$187$28
38 years$1,142$739$463$283$170$24
39 years$1,100$702$434$261$154$21
40 years$1,061$668$407$241$140$18
41 years$1,023$636$381$222$127$15
42 years$988$606$358$205$115$13
43 years$954$577$336$189$104$11
44 years$922$550$315$175$95$9
45 years$891$525$296$161$86$8
46 years$862$501$278$149$78$7
47 years$834$478$261$138$71$6
48 years$808$456$245$127$64$5
49 years$782$435$231$118$59$4
50 years$758$416$217$109$53$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $776,000, adding $2,342 every year, while hoping to spend $27,359 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 66/19/15 Blend
55$776,000$776,000$776,000$776,000
56$857,568$816,440$804,412$910,957
57$915,930$827,336$802,250$957,816
58$979,328$837,848$799,098$1,005,608
59$1,048,247$847,930$794,896$1,057,170
60$1,123,220$857,531$789,576$1,112,868
61$1,204,834$866,595$783,073$1,173,108
62$1,293,734$875,066$775,313$1,238,337
63$1,390,632$882,880$766,223$1,309,048
64$1,496,308$889,974$755,723$1,385,785
65$1,611,624$896,275$743,733$1,469,147
66$1,737,528$901,710$730,165$1,559,795
67$1,875,061$906,200$714,931$1,658,458
68$2,025,372$909,658$697,937$1,765,939
69$2,189,726$911,997$679,083$1,883,125
70$2,369,513$913,120$658,267$2,010,993
71$2,566,265$912,925$635,382$2,150,621
72$2,781,672$911,306$610,314$2,303,197
73$3,017,589$908,147$582,946$2,470,031
74$3,276,064$903,327$553,156$2,652,569
75$3,559,350$896,717$520,814$2,852,404
76$3,869,928$888,181$485,786$3,071,293
77$4,210,533$877,573$447,932$3,311,174
78$4,584,174$864,741$407,104$3,574,183
79$4,994,168$849,522$363,150$3,862,676
80$5,444,167$831,742$315,910$4,179,251
81$5,938,194$811,220$265,215$4,526,770
82$6,480,683$787,762$210,892$4,908,394
83$7,076,514$761,164$152,758$5,327,603
84$7,731,066$731,209$90,623$5,788,236
85$8,450,263$697,667$24,288$6,294,527
86$9,240,634$660,297$0$6,851,143
87$10,109,369$618,841$0$7,470,672
88$11,064,389$573,029$0$8,155,976
89$12,114,424$522,574$0$8,909,455
90$13,269,088$467,173$0$9,738,042
91$14,538,976$406,506$0$10,649,378
92$15,935,760$340,234$0$11,651,885
93$17,472,302$267,999$0$12,754,846
94$19,162,770$189,424$0$13,968,492
95$21,022,777$104,111$0$15,304,096
96$23,069,526$11,637$0$16,774,088
97$25,321,969$0$0$18,392,162
98$27,800,990$0$0$20,191,907
99$30,529,602$0$0$22,175,589
100$33,533,159$0$0$24,359,216